Must confess don’t know a lot about cryptocurrencies, even when I’ve researched as much as I could and watched every single documentary related I found barely understand the Bitcoin world and so.
Briefly, as far as my limited financial knowledge allowed me to understand. A group of people started communicating over internet looking for a way to create a new currency, a better and more free one. And they started working together in the development of it, Bitcoin. One if those people (they don’t even know if it was a single person or a group) with the alias Satoshi Nakamoto developed big part of it and out of the sudden disappeared and stopped having contact with the rest of the programmers in the project when the Bitcoin was already working on a production stage.
This person (or group of people) who is known to have a net worth of 1,000,000 BTC, created a currency out of nowhere, just code, a bunch of “well written and encrypted” numbers and letters. The value in dollars currently of the net worth is around 6,691,210,000.00
How does some random digital digits on the internet created by God knows who get a real monetary value? The answer is the one, I personally think, should really be the currency by which all is valued “Trust”. No, not gold, oil, diamonds or so but trust. People trust those random digital digits have a real value and start using them on commercial exchange resulting on the new currency getting an accountable value. The more people use it and trust that the currency have a value the bigger the price of that currency.
Trust should be the real and only currency everywhere in every single, of any kind, transaction. People who are not trust worthy are basically the ones who somehow have lose friend’s, partners’s or/and even family’s trust. You don’t lose trust in those who have done right but in those who have done wrong. Trust is pretty similar to respect, is not something you simply get and keep just because… but because you have earned it.
That kind of currency would revolutionize society. Not everyone trust the same people, the same things, with the same strength nor to the same amount of people. But I can’t work something like this out to be the one who should work for the development of a thing that big I just like thinking about it. I wonder how many wealthy people would end up in bankruptcy if they’d have their money converted into “Trust Currency” (TC) and how many poor people would become wealthy?
Let me ask you a few things. What’s your must valued treasure? doesn’t matter at what level, just think about it; spiritual, physical, emotional, material… How many people would you trust that? A secret, your life, your “most” loved ones, your most precious belongings, your deepest feelings. What price would you put on that? Who would you trust those things? How many people have you disappointed? What people trust you? Who trust you? How much would you trust?